This chapter aims at providing an understanding of the research and devlopment (R&D) process in the pharmaceutical industry, by exploring the methodological challenges and approaches in the assessment of the determinants of innovation in the pharmaceutical industry. It (i) discusses possible methodological approaches to model occurrence of events; (ii) describes in detail competing risks duration models as the best methodological option in light of the nature of pharmaceutical R&D processes and data; (iii) concludes with an estimation strategy and overview of potential covariates that have been found to correlate with the likelihood of failure of R&D pharmaceutical projects.
Barrenho, E. and Miraldo, M. (2018), "R&D Success in Pharmaceutical Markets: A Duration Model Approach", Health Econometrics (Contributions to Economic Analysis, Vol. 294), Emerald Publishing Limited, pp. 201-233. https://doi.org/10.1108/S0573-855520180000294010Download as .RIS
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